sellTokenTest.js

const fs = require('fs');
const Web3 = require('web3');
const Tx = require('ethereumjs-tx')

var privateKey = new Buffer('388c684f0ba1ef5017716adb5d21a053ea8e90277d0868337519f97bede61418', 'hex')
var publicKey = "0x0d1d4e623D10F9FBA5Db95830F7d3839406C6AF2";

const provider = new Web3.providers.HttpProvider('http://localhost:8545')
const web3 = new Web3(provider)
web3.eth.defaultAccount = publicKey;

var TOKEN_ADDRESS = "0x8cdaf0cd259887258bc13a92c0a6da92698644c0";
var TOKEN_ABI = [{"constant":false,"inputs":[{"name":"newSellPrice","type":"uint256"},{"name":"newBuyPrice","type":"uint256"}],"name":"setPrices","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[],"name":"name","outputs":[{"name":"","type":"string"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"}],"name":"approve","outputs":[{"name":"success","type":"bool"}],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[],"name":"getBalance","outputs":[{"name":"","type":"uint256"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":true,"inputs":[],"name":"totalSupply","outputs":[{"name":"","type":"uint256"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transferFrom","outputs":[{"name":"success","type":"bool"}],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[],"name":"decimals","outputs":[{"name":"","type":"uint8"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[{"name":"_value","type":"uint256"}],"name":"burn","outputs":[{"name":"success","type":"bool"}],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[],"name":"sellPrice","outputs":[{"name":"","type":"uint256"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":true,"inputs":[{"name":"","type":"address"}],"name":"balanceOf","outputs":[{"name":"","type":"uint256"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[{"name":"target","type":"address"},{"name":"mintedAmount","type":"uint256"}],"name":"mintToken","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":false,"inputs":[{"name":"_from","type":"address"},{"name":"_value","type":"uint256"}],"name":"burnFrom","outputs":[{"name":"success","type":"bool"}],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[],"name":"buyPrice","outputs":[{"name":"","type":"uint256"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":true,"inputs":[],"name":"owner","outputs":[{"name":"","type":"address"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":true,"inputs":[],"name":"symbol","outputs":[{"name":"","type":"string"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[],"name":"buy","outputs":[],"payable":true,"stateMutability":"payable","type":"function"},{"constant":false,"inputs":[{"name":"_to","type":"address"},{"name":"_value","type":"uint256"}],"name":"transfer","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[{"name":"","type":"address"}],"name":"frozenAccount","outputs":[{"name":"","type":"bool"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[{"name":"_spender","type":"address"},{"name":"_value","type":"uint256"},{"name":"_extraData","type":"bytes"}],"name":"approveAndCall","outputs":[{"name":"success","type":"bool"}],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":true,"inputs":[{"name":"","type":"address"},{"name":"","type":"address"}],"name":"allowance","outputs":[{"name":"","type":"uint256"}],"payable":false,"stateMutability":"view","type":"function"},{"constant":false,"inputs":[{"name":"amount","type":"uint256"}],"name":"sell","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":false,"inputs":[{"name":"target","type":"address"},{"name":"freeze","type":"bool"}],"name":"freezeAccount","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"constant":false,"inputs":[{"name":"newOwner","type":"address"}],"name":"transferOwnership","outputs":[],"payable":false,"stateMutability":"nonpayable","type":"function"},{"inputs":[{"name":"initialSupply","type":"uint256"}],"payable":false,"stateMutability":"nonpayable","type":"constructor"},{"anonymous":false,"inputs":[{"indexed":false,"name":"target","type":"address"},{"indexed":false,"name":"frozen","type":"bool"}],"name":"FrozenFunds","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":true,"name":"to","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Transfer","type":"event"},{"anonymous":false,"inputs":[{"indexed":true,"name":"from","type":"address"},{"indexed":false,"name":"value","type":"uint256"}],"name":"Burn","type":"event"}];

var sellingaccounmt = 50;

const contract = web3.eth.contract(TOKEN_ABI);
var tokenInstance = contract.at(TOKEN_ADDRESS);

var callData = tokenInstance.sell.getData(sellingaccounmt);

const gasPrice = web3.eth.gasPrice;
const gasPriceHex = web3.toHex(gasPrice);
const gasLimitHex = web3.toHex(300000);

const nonce = web3.eth.getTransactionCount(publicKey);
const nonceHex = web3.toHex(nonce);
console.log(nonceHex);

const rawTx = {
    nonce:nonceHex,
    gasPrice: gasPriceHex,
    gasLimit: gasLimitHex,
    data: callData,
    to: TOKEN_ADDRESS,
    from: web3.eth.defaultAccount
};

const tx = new Tx(rawTx);
tx.sign(privateKey);
const serializedTx = tx.serialize();

function waitForTransactionReceipt(hash) {
    console.log('Waiting for contract to be mined...');
    const receipt = web3.eth.getTransactionReceipt(hash);
    if (receipt == null) {
        setTimeout(() => {
            waitForTransactionReceipt(hash);
        }, 1000);
    } else {
        console.log('Contract Address: ', JSON.stringify(receipt));
    }
}

web3.eth.sendRawTransaction(serializedTx.toString('hex'), (err, hash) => {
    if (err) { console.log(err); return; }
    console.log('Creation tx: ' + hash);
    waitForTransactionReceipt(hash);
});